Looking for new ways to earn bitcoins, users sooner or later come to the question what is a bitcoin faucet and is it really worth it. A bitcoin faucet is a website which gives away small amounts in bitcoin in exchange for some simple actions, such as clicking a weblink, solving a Captcha or staying on an advertised webpage for a length of time, say, playing a game. There are faucets working with other cryptocurrencies as well.
Besides a few sites funded by donations, most of them generate their money from advertisement revenue, either through banner rotation or clicks count. A small portion of this income is then paid out to visitors. Although the rewards offered for each task are really tiny, mostly below 1,000 satoshi or 0,00001 BTC, faucets may sometimes assign a random bigger amount in some sort of a lottery. Also many sites follow referral system where everyone who has brought a new user is rewarded with a fraction of the latter’s earnings. In any case to gain a noticeable sum using this system takes a considerable time, hence the metaphor of dripping water tap or ‘faucet’.
To use a faucet all you need to provide is your wallet address to send bitcoins to. Most likely you will be asked to fill in a Captcha to prove you are not a bot. No other identification is required. To minimise transfer fees and avoid dust transactions typically faucets collect certain amount of rewards before sending them to your wallet. Also normally there are preset delays between payments to prevent using bots or cheating with repeated withdrawals.
Due to the fluid nature of this business the list of active bitcoin faucets is long and constantly changing. A popular option to make earning more efficient is to use faucet rotators – aggregator services which collect links to the most popular faucets. They allow you to automatically navigate between the websites and gather rewards with no time spent searching the internet.
Despite once being quite popular with bitcoin users, currently they are more of a controversy. In the early days of bitcoin faucets played important role attracting people to cryptocurrency and spreading information. The significance of available rewards was changing over time with the value of bitcoin. Today to make any profit with facets you should carefully balance the earnings you can get there with the cost of internet and electricity you spend for it.